Most Expensive Homes Sold in the DMV in 2020

Answer: Happy holidays to you and yours! I hope you are finding new ways to enjoy the season and connect with family and friends this year. I’m going to keep my final post of 2020 light and take a look at the most expensive sales in the DMV in 2020, something we all enjoy doing!

Despite its Missing Ultra High-End Market [sarcasm], Arlington boasts the most expensive sale in the DMV in 2020, by a LOT, with the sale of a massive estate along the Potomac River for $45,000,000. This price tag earns the new owner over 31,000sqft of living space, 3.2 acres, a 30-car garage, and gorgeous views of the Potomac River.

Listing and photo by Russell Firestone, TTR Sotheby’s International Realty (409 Chain Bridge Rd, Arlington)

Top 5 Most Expensive Sales in Arlington

Arlington’s five most expensive sales in 2020 include the region-leading $45M sale mentioned above and four sales ranging from $2.88M-$3.35M, including two condos in Rosslyn’s iconic Turnberry Tower.

Listing and photo by Nancy Taylor Bubes, Washington Fine Properties (1881 N Nash St #2301, Arlington)

Top 5 Most Expensive Sales in Alexandria

Alexandria’s five most expensive sales in 2020 include four homes in Alexandria’s new waterfront condo and townhouse community, Robinson Landing, and one incredibly unique single-family home on ¼ acre in the heart of Old Town (pictured below).

Listing and photo by MaryEllen Rotondo, McEnearney Associates (217 S Fairfax St, Alexandria)

Top 5 Most Expensive Homes in Fairfax County

Fairfax County’s five most expensive sales in 2020 include three homes in Great Falls and two homes in Mclean ranging from $5.6M-$24M. Pictured below is what $7M gets you in Great Falls – over 20,000sqft, 5 acres, and stunning landscape and architectural design.

Listing and photo by Piper Yerks, Washington Fine Properties (576 Innsbruck Ave, Great Falls)

Top 5 Most Expensive Homes in Loudoun County

Loudoun County’s five most expensive sales in 2020 include sales ranging from $3.75M-$16M. At a price tag of $16M, you could have secured a 1,550+ acre cattle farm in Upperville, surrounded by vineyards and a short drive to Middleburg.

Listing and photo by Kathryn Harrell, Washington Fine Properties (33542 Newstead Ln, Upperville)

Top 5 Most Expensive Homes in Washington DC

Washington DC’s five most expensive sales in 2020 range from $6.1M-$17.75M, with Georgetown commanding four of those sales. Want a 10,000sqft home with a detached 2-car garage and 6/10th of an acre in Georgetown? That’ll run you $17.75M in 2020.

Listing and photo by Michael Rankin, TTR Sotheby’s International Realty (1405 34th St NW, Washington DC)

Top 5 Most Expensive Homes in Montgomery County

Montgomery County’s five most expensive sales in 2020 range from $5.475M-$15M, including my personal favorite, a $10M mansion on Chevy Chase Circle sitting on nearly two acres (pictured below).

Listing and photo by Daniel Heider, TTR Sotheby’s International Realty (9 Chevy Chase Cir, Chevy Chase)

Top 5 Most Expensive Homes in the DMV, Outside the Greater DC Metro

The DMV’s five most expensive sales in 2020, outside of the greater DC Metro area, range from $6.2M-$10M, including four homes fronting the Chesapeake Bay. My personal favorite, pictures below, is a 36 acre waterfront estate just outside of St. Michaels, and includes a WWII replica fighter plane hung from the ceiling of the great room.

Listing and photo by Doc Keane, Washington Fine Properties (26310 Saint Michaels Rd, Easton)

I hope that was a fun tour through 2020’s most expensive homes in the DMV! Happy New Year everybody!

If you’d like to discuss buying or selling strategies, don’t hesitate to reach out to me at Eli@EliResidential.com.

The Missing Ultra High-End in Arlington

Question: I recently saw a home listed in Arlington for almost $30M. Are there neighborhoods in Arlington with ultra-expensive homes like this?

Answer: We hear a lot about the “missing middle” in Arlington housing, but there’s another market that Arlington struggles to support that nobody is talking about…the super-rich. Sure we have plenty of homes that sell for $1M-$2.5M (457 sold in 2019) but in 2019 there were only seven sales over $2.5M and just one over $3M (and that was a sub-dividable lot). So what gives with everybody calling Arlington “expensive” if we can’t support the super-rich? Where do they live? (I hope my sarcasm is coming across…)

405 Chain Bridge Rd Arlington VA 22207. Listed by Mark Lowham, TTR Sotheby’s.

Arlington’s Most Expensive Homes

The recently listed $28.5M home, by Mark Lowham of TTR Sotheby’s, on the Potomac River side of Chain Bridge Rd is an anomaly in Arlington. Outside of the prestigious Country Club Hills neighborhood and Turnberry Tower penthouse-level condos, sale prices in Arlington rarely eclipse the $3M mark and even in those communities the handful of $3M+ sales historically top out at $4M. And then you have a very small pocket of ultra-luxury homes at $5M+ along the Potomac, off Chain Bridge Rd, which fall within Arlington County, but actually have a Mclean mailing address and zip code (22101).

Note: There are dozens more homes in Arlington worth $3M-$5M that just haven’t been sold. Many are custom built in the last 10-15 years with the original owners still occupying them. There are also a handful of private sales that aren’t entered into the MLS because they were sold off-market.

Why Doesn’t Arlington Have Ultra-Expensive Homes?

So with so much wealth and close proximity to DC, why doesn’t Arlington have more ultra-expensive homes? The answer is lot size.

For anybody that has looked for a home with a little elbow room/privacy in Arlington, you’ve reached the unfortunate conclusion that it’s very difficult to find anything with more than ¾ acres (even ½ acre is highly coveted) and there are just a small handful of properties with more than 1.5 acres. Smaller lots make it difficult to build enough house to justify a $5M+ price tag.

Where To Spend $5M+?

So where do people with $5M+ to spend on a home live? In Northern VA, most of those homes are in Mclean or Great Falls, as well as further west in Loudon County’s horse/wine country. DC’s most popular ultra-expensive neighborhoods are Georgetown and Kalorama, with a spattering of other neighborhoods west of Rock Creek Park. In Maryland you’ll find the most expensive homes in Potomac along River Rd, as well as Chevy Chase and Bethesda.

Enjoy Some Photos

For those of you who are here just for the pictures, here you go! I’ve linked to $5M homes either for sale or sold in the last few years in the area:

Northern Virginia

Washington DC

Maryland (Montgomery County and Eastern Shore)